The awards season just keeps rolling. Alec Baldwin and a slew of Hollywood stars were dressed to the nines Saturday night as some of their own were presented with Oscars for their work in the movie business at the inaugural Governor's Awards gala.

Baldwin talks to ET about his Oscar hosting duties, saying, "I'm a great movie fan...I'm really happy to be asked to be a part of it." He adds that they will try to "strike that smart balance between having a fun show, but at the same time keep the dignity of the Academy Awards."

The Academy of Motion Picture Arts and Sciences whipped out their golden statuettes months ahead of March's Academy Awards to recognize the accomplishments of actress Lauren Bacall, Roger Corman, and cinematographer Gordon Willis. Producer John Calley was presented with the Irving J. Thalberg Memorial Award.

Baldwin, who will host the Academy Awards ceremony with Steve Martin, attended the event, along with Tom Hanks, Jack Nicholson, Steven Spielberg, George Lucas, Jeff Bridges, Dana Delany, Marisa Tomei, and Ron Howard. Portions of Saturday's event will be incorporated into the 82nd Annual Academy Awards, which will be broadcast live on March 7, 2010.